Eight-million percent loan shark jailed
A ruthless loan shark who charged his victims interest at up to eight million percent has been jailed for eight months.Ian Jenkins, 43, targeted homeless people in Gloucester with illegal loans to fund their drug and alcohol habits.Taking personal documents and pin numbers as security, he charged 30% interest per day on the loans – [...]
Publ.Date : Thu, 11 Jun 2009 11:08:41 +0000

HSBC takes responsible lender accolade
HSBC this week secured the title of Responsible Lender of the Year at the Credit Today awards 2009.The commercial and consumer lending magazine applauded HSBC for its conscientious attitude towards lending.Joe Garner of HSBC UK said the bank is “proud” to be recognised for its “approach to responsible lending”.“To us, responsible lending is about knowing [...]
Publ.Date : Tue, 09 Jun 2009 13:07:00 +0000

Rates soaring on personal loans
Consumers taking out a personal loan are “paying through the nose” due to soaring interest rates.Banks are now charging an average APR of 10.32% on personal loans even though the Bank of England’s base rate has been held at a record low of 0.5%.This compares to an average personal loan APR of 8.71% in 2004.“Despite [...]
Publ.Date : Tue, 25 Aug 2009 16:46:22 +0000

Lending to businesses falls for second consecutive month
In its latest “Trends in Lending” report, the Bank of England said the flow of credit to British businesses fell to £3.4 billion in May and followed a drop of £6 billion the previous month.During 2007, the normal levels of lending were £7 billion per month and £4 billion in 2008 – when the credit [...]
Publ.Date : Tue, 21 Jul 2009 08:59:13 +0000

HSBC takes responsible lender accolade
HSBC this week secured the title of Responsible Lender of the Year at the Credit Today awards 2009.The commercial and consumer lending magazine applauded HSBC for its conscientious attitude towards lending.Joe Garner of HSBC UK said the bank is “proud” to be recognised for its “approach to responsible lending”.“To us, responsible lending is about knowing [...]
Publ.Date : Tue, 09 Jun 2009 13:07:00 +0000

Graduates too poor to pay back student loans
Half the university students who graduated since tuition fees were introduced are too poor to pay back their student loans.Of the 1.4 million graduates who started university after 1998, 702,000 are earning too little to pay back debt accrued whilst studying.Repayments are triggered when graduates start earning at least £15,000 per year; over half a [...]
Publ.Date : Sun, 26 Jul 2009 09:00:31 +0000

FSA bans lenders from selling PPI
The Financial Services Authority (FSA) has banned lenders from selling payment protection insurance (PPI) alongside unsecured personal loans.Starting today, banks and other loan providers are no longer allowed to sell PPI, the FSA has ruled.“No firms will be selling single premium PPI on unsecured personal loans from today following FSA intervention and action with the [...]
Publ.Date : Mon, 01 Jun 2009 12:23:41 +0000

Lending to businesses falls for second consecutive month
In its latest “Trends in Lending” report, the Bank of England said the flow of credit to British businesses fell to £3.4 billion in May and followed a drop of £6 billion the previous month.During 2007, the normal levels of lending were £7 billion per month and £4 billion in 2008 – when the credit [...]
Publ.Date : Tue, 21 Jul 2009 08:59:13 +0000

M&S gives 10% cashback on personal loans
M&S Money is offering 10% cashback to new customers taking out a personal loan.Borrowers will be given a 10% refund on the interest they’ve paid once their final repayment has been made.The offer is available until 11 August, and applies to loans paid back over a period of at least 36 months.Customers who repay the [...]
Publ.Date : Tue, 23 Jun 2009 12:54:44 +0000

Rates soaring on personal loans
Consumers taking out a personal loan are “paying through the nose” due to soaring interest rates.Banks are now charging an average APR of 10.32% on personal loans even though the Bank of England’s base rate has been held at a record low of 0.5%.This compares to an average personal loan APR of 8.71% in 2004.“Despite [...]
Publ.Date : Tue, 25 Aug 2009 16:46:22 +0000

HSBC takes responsible lender accolade
HSBC this week secured the title of Responsible Lender of the Year at the Credit Today awards 2009.The commercial and consumer lending magazine applauded HSBC for its conscientious attitude towards lending.Joe Garner of HSBC UK said the bank is “proud” to be recognised for its “approach to responsible lending”.“To us, responsible lending is about knowing [...]
Publ.Date : Tue, 09 Jun 2009 13:07:00 +0000

Eight-million percent loan shark jailed
A ruthless loan shark who charged his victims interest at up to eight million percent has been jailed for eight months.Ian Jenkins, 43, targeted homeless people in Gloucester with illegal loans to fund their drug and alcohol habits.Taking personal documents and pin numbers as security, he charged 30% interest per day on the loans – [...]
Publ.Date : Thu, 11 Jun 2009 11:08:41 +0000

?Staggering?loan rates up 44% in two years
Loan interest rates have seen a ’staggering jump’ over the past 24 months, according to Moneyfacts.co.uk.The average interest rate charged on unsecured personal loans has increased by up to 44% in two years, Moneyfacts said.According to the price comparison site, the average APR on a £5,000 has jumped from 8.6% in May 2007 to 12.4% [...]
Publ.Date : Fri, 08 May 2009 15:06:07 +0000

FSA bans lenders from selling PPI
The Financial Services Authority (FSA) has banned lenders from selling payment protection insurance (PPI) alongside unsecured personal loans.Starting today, banks and other loan providers are no longer allowed to sell PPI, the FSA has ruled.“No firms will be selling single premium PPI on unsecured personal loans from today following FSA intervention and action with the [...]
Publ.Date : Mon, 01 Jun 2009 12:23:41 +0000

Loan sharks set to profit from recession misery
Financial difficulties caused by the recession will drive up the number of consumers borrowing money from illegal lenders and loan sharks, the Money Advice Trust (MAT) warned this week.Brits seeking a quick cash injection will be tempted by the lure of easy money that loan sharks appear to offer.“It could be that someone is worried [...]
Publ.Date : Mon, 01 Jun 2009 12:18:49 +0000

M&S gives 10% cashback on personal loans
M&S Money is offering 10% cashback to new customers taking out a personal loan.Borrowers will be given a 10% refund on the interest they’ve paid once their final repayment has been made.The offer is available until 11 August, and applies to loans paid back over a period of at least 36 months.Customers who repay the [...]
Publ.Date : Tue, 23 Jun 2009 12:54:44 +0000

HSBC takes responsible lender accolade
HSBC this week secured the title of Responsible Lender of the Year at the Credit Today awards 2009.The commercial and consumer lending magazine applauded HSBC for its conscientious attitude towards lending.Joe Garner of HSBC UK said the bank is “proud” to be recognised for its “approach to responsible lending”.“To us, responsible lending is about knowing [...]
Publ.Date : Tue, 09 Jun 2009 13:07:00 +0000

Nationwide cuts rate on personal loans
Nationwide Building Society has cut the interest rate it charges on personal loans between £7,500 and £14,999.Typical annual percentage rate (APR) for newly taken out loans has been reduced from 8.2% to 7.9%.By comparison, RBS offers a typical APR of 8.9% for loans of this amount, whilst HSBC’s typical APR is 9.9%.“With this typical rate, [...]
Publ.Date : Fri, 08 May 2009 15:08:04 +0000

?Staggering?loan rates up 44% in two years
Loan interest rates have seen a ’staggering jump’ over the past 24 months, according to Moneyfacts.co.uk.The average interest rate charged on unsecured personal loans has increased by up to 44% in two years, Moneyfacts said.According to the price comparison site, the average APR on a £5,000 has jumped from 8.6% in May 2007 to 12.4% [...]
Publ.Date : Fri, 08 May 2009 15:06:07 +0000

Loan sharks set to profit from recession misery
Financial difficulties caused by the recession will drive up the number of consumers borrowing money from illegal lenders and loan sharks, the Money Advice Trust (MAT) warned this week.Brits seeking a quick cash injection will be tempted by the lure of easy money that loan sharks appear to offer.“It could be that someone is worried [...]
Publ.Date : Mon, 01 Jun 2009 12:18:49 +0000